Jiangsu Yongjin Metal Technology Co Ltd, located in the Nantong National High-tech Industrial Development Zone in Tongzhou, is a champion of innovation. It is able to manufacture stainless steel bands with a thickness of only 0.08 millimeters. [Photo by Bei Duomin/WeChat account: nttzgov]

The Tongzhou district of Nantong city – situated in East China's Jiangsu province – was recently approved as the first provincial demonstration area for intellectual property rights, or IPRs protection in the central region of Jiangsu.

A special fund of 10 million yuan ($1.49 million) will be allocated by the province's finance department to support the district's IPR protection and contribute to the development there of a first-class business environment.

Tongzhou has promoted IP development and encouraged innovation by its resident enterprises since 2019. In 2021, a total of 12.78 million yuan was paid out in the form of grants and subsidies. The number of invention patents per 10,000 people in the region reached 49.55, while the number of valid invention patents hit 5,483 at the end of last year.

In order to foster business innovation through pledge financing, Tongzhou has issued a raft of policies to provide all-round services for its firms. From January to May, the IP pledge financing amount topped 191 million yuan.

In addition, Tongzhou has built several IPR protection centers and worked with local governments and enterprises in regions including Shanghai, Hangzhou, Suzhou – as well as with internet platforms such as Alibaba – to help enterprises defend their IPRs through administrative and judicial means.